Federal Register / Vol. 63, No. 17 /Tuesday, January 27, 1998 / Notices 3901

agricultural Other Real Estate Owned

(OREO) and agricultural personal

property. These loans must be fully

amortized over a period not to exceed

seven years and, in any case, must be

fully amortized by year-end 1998.

Savings institutions are not eligible to

participate in the agricultural loan loss

amortization program established by

this statute.

Treatment of Junior Liens on 1- to 4-

Family Residential Properties

In some cases, a banking organization

may make two loans on a single

residential property, one secured by a

first lien, the other by a second lien. In

such a situation, the Federal Reserve

views these two transactions as a single

lien, provided there are no intervening

liens. The total amount of these

transactions would be assigned to either

the 50 percent or the 100 percent risk

category depending upon whether

certain other criteria are met.

One criterion is that the loan must be

made in accordance with prudent

underwriting standards, including an

appropriate ratio of the current loan

balance to the value of the property (the

loan-to-value ratio or LTV). When

considering whether a loan is consistent

with prudent underwriting standards,

the Federal Reserve evaluates the LTV

ratio based on the combined loan

amount. If the combined loan amount

satisfies prudent underwriting

standards, both the first and second lien

are assigned to the 50 percent risk

category. The FDIC also combines the

first and second liens to determine the

appropriateness of the LTV ratio, but it

applies the risk weights differently than

the Federal Reserve. If the LTV ratio

based on the combined loan amount

satisfies prudent underwriting

standards, the FDIC risk weights the

first lien at 50 percent and the second

lien at 100 percent, otherwise both liens

are risk weighted at 100 percent. The

OCC treats all first and second liens

separately, with qualifying first liens

risk weighted at 50 percent and nonqualifying first liens and all second

liens risk weighted at 100 percent. The

OTS has interpreted its rule to treat first

and second liens to a single borrower as

a single extension of credit, similar to

the Federal Reserve.

Under the proposal issued by the

agencies in October 1997, the agencies

would follow the OCC capital treatment

for first and second liens.

Pledged Deposits and Nonwithdrawable

Accounts

The capital guidelines of the OTS

permit thrift institutions to include in

capital certain pledged deposits and

nonwithdrawable accounts that meet

the criteria of the OTS. Income Capital

Certificates and Mutual Capital

Certificates held by the OTS may also be

included in capital by thrift institutions.

These instruments are not relevant to

commercial banks, and, therefore, they

are not addressed in the banking

agencies’ capital rules.

Construction Loans on Presold

Residential Property

The agencies all assign a qualifying

loan to a builder to finance the

construction of a presold 1- to 4-family

residential property to the 50 percent

risk category provided certain

conditions are satisfied. The Federal

Reserve and the FDIC permit a 50

percent risk weight once the residential

property is sold, whether the sale occurs

before or after the construction loan has

been made. The OCC and the OTS

permit the 50 percent risk weight

treatment only if the property is sold to

an individual who will occupy the

residence upon completion of

construction before the extension of

credit to the builder.

The agencies’ October proposal set

forth the treatment followed by the

Federal Reserve and the FDIC.

Mutual Funds

The three banking agencies generally

assign all of a bank’s holding in a

mutual fund to the risk category

appropriate to the highest risk asset that

a particular mutual fund is permitted to

hold under its operating rules. The OCC

also permits, on a case-by-case basis, an

institution’s investment to be allocated

on a pro rata basis among the risk

categories based on the percentages of a

portfolio authorized to be invested in a

particular risk weight category. The OTS

applies a capital charge appropriate to

the riskiest asset that a mutual fund is

actually holding at a particular time.

The OTS also permits, on a case-by-case

basis pro rata allocation among risk

categories based on the fund’s actual

holdings. All of the agencies’ rules

provide that the minimum risk weight

for investment in mutual funds is 20

percent.

The agencies have proposed following

the banking agencies’ general treatment

and permitting institutions, at their

option, to assign such investment on a

pro rata basis according to the

investment limits in the mutual fund

prospectus.

Accounting Standards

Over the years, the three banking

agencies, under the auspices of the

Federal Financial Institutions

Examination Council (FFIEC), have

developed Uniform Reports of

Condition and Income (Call Reports) for

all commercial banks and FDICsupervised savings banks. The reporting

standards followed by the three banking

agencies for recognition and measuring

purposes are consistent with generally

accepted accounting principles (GAAP).

The agencies adopted GAAP as the

reporting basis for the Call Report,

effective for March 1997 reports. The

adoption of GAAP for Call Report

purposes eliminated the differences in

accounting standards among the

agencies that were set forth in previous

reports to Congress. Thus, there are no

material differences in regulatory

accounting standards for regulatory

reports filed with the federal banking

agencies by commercial banks, savings

banks, and savings associations.

By order of the Board of Governors of the

Federal Reserve System, January 21, 1998.

William W. Wiles,

Secretary of the Board.

[FR Doc. 98–1812 Filed 1–26–98; 8:45 am]

BILLING CODE 6210–01–P

DEPARTMENT OF HEALTH AND

HUMAN SERVICES

Office of the Secretary

Agency Information Collection

Activities: Submission for OMB

Review; Comment Request

The Department of Health and Human

Services, Office of the Secretary

publishes a list of information

collections it has submitted to the Office

of Management and Budget (OMB) for

clearance in compliance with the

Paperwork Reduction Act of 1995 (44

U.S.C. Chapter 35) and 5 CFR 1320.5.

The following are those information

collections recently submitted to OMB.

1. Self-Evaluation and Recordkeeping

Required by the Regulation

Implementing Section 504 of the

Rehabilitation Act of 1973 (45 CFR

84.6(c))—Extension—0990–0124—

Recipients of DHHS funds must conduct

a single-time evaluation of their policies

and practices for compliance with

Section 504 of the Rehabilitation Act of

1973. Respondents: State or local

governments, businesses or other forprofit, non-profit institutions; Annual

Number of Respondents: 2,120;

Frequency of Response: once; Burden

per Response: 16 hours; Total Annual

Burden: 33,920 hours.

OMB Desk Officer: Allison Eydt.

Copies of the information collection

packages listed above can be obtained

by calling the OS Reports Clearance

Officer on (202) 690–6207. Written
3902 Federal Register / Vol. 63, No. 17 /Tuesday, January 27, 1998 / Notices

comments and recommendations for the

proposed information collection should

be sent directly to the OMB desk officer

designated above at the following

address: Human Resources and Housing

Branch, Office of Management and

Budget, New Executive Office Building,

Room 10235, 725 17th Street, N.W.,

Washington, D.C. 20503.

Comments may also be sent to

Cynthia Agens Bauer, OS Reports

Clearance Officer, Room 503H,

Humphrey Building, 200 Independence

Avenue S.W., Washington, DC, 20201.

Written comments should be received

within 30 days of this notice.

Dated: January 16, 1998.

Dennis P. Williams,

Deputy Assistant Secretary, Budget.

[FR Doc. 98–1845 Filed 1–26–98; 8:45 am]

BILLING CODE 4150–04–M

DEPARTMENT OF HEALTH AND

HUMAN SERVICES

Office of the Secretary

Notice of Interest Rate on Overdue

Debts

Section 30.13 of the Department of

Health and Human Services’ claims

collection regulations (45 CFR Part 30)

provides that the Secretary shall charge

an annual rate of interest as fixed by the

Secretary of the Treasury after taking

into consideration private consumer

rates of interest prevailing on the date

that HHS becomes entitled to recovery.

The rate generally cannot be lower than

the Department of Treasury’s current

value of funds rate or the applicable rate

determined from the ‘‘Schedule of

Certified Interest Rates with Range of

Maturities.’’ This rate may be revised

quarterly by the Secretary of the

Treasury and shall be published

quarterly by the Department of Health

and Human Services in the Federal

Register.

The Secretary of the Treasury has

certified a rate of 141⁄2% for the quarter

ended December 31, 1997. This interest

rate will remain in effect until such time

as the Secretary of the Treasury notifies

HHS of any change.

Dated: January 20, 1998.

George Strader,

Deputy Assistant Secretary, Finance.

[FR Doc. 98–1844 Filed 1–26–98; 8:45 am]

BILLING CODE 4150–04–M

DEPARTMENT OF HEALTH AND

HUMAN SERVICES

National Committee on Vital and Health

Statistics: Meeting

Pursuant to the Federal Advisory

Committee Act, the Department of

Health and Human Services announces

the following advisory committee

meeting.

Name: National Committee on Vital and

Health Statistics (NCVHS), Subcommittee on

Population-Specific Issues.

Times and Dates: 9:00 a.m.–5:00 p.m.,

February 9, 1998; 9:00 a.m.–4:00 p.m.,

February 10, 1998.

Place: Wyndam Metro Center Hotel, 10220

North Metro Parkway East, Phoenix, Arizona.

Status: Open.

Purpose: The Subcommittee is in the

process of examining a number of data needs

and issues associated with Medicaid

managed care. The purpose of this site visit

to Arizona is to obtain information on one

State’s Medicaid managed care program, with

special attention to data needs, data systems,

data uses and data issues. Presentations are

planned involving representatives of State

agencies, providers, plans, and patient

advocacy groups who will describe their data

needs and issues relating to Medicaid

managed care. A subsequent site visit to

Massachusetts also is planned.

Contact Person for more Information:

Substantive program information as well as

a roster of committee members may be

obtained from Carolyn Rimes, lead

Subcommittee staff, Health Care Financing

Administration, DHHS, 7500 Security

Boulevard, C–3–21–06, Baltimore, Maryland

21244–1850, telephone (410) 786–6620, or

Marjorie S. Greenberg, Executive Secretary,

NCVHS, NCHS, CDC, Room 1100,

Presidential Building, 6525 Belcrest Road,

Hyattsville, Maryland 20782, telephone 301/

436–7050. Additional information about the

full Committee is available on the NCVHS

website, where the tentative agenda for the

Subcommittee meeting will also be posted

when available: http://aspe.os.dhhs.gov/

ncvhs

Dated: January 20, 1998.

James Scanlon,

Director, Division of Data Policy.

[FR Doc. 98–1843 Filed 1–26–98; 8:45 am]

BILLING CODE 4151–04–M

DEPARTMENT OF HEALTH AND

HUMAN SERVICES

Food and Drug Administration

[Docket No. 97N–0535]

Agency Information Collection

Activities: Institutional Review Boards:

Proposed Collection; Comment

Request

AGENCY: Food and Drug Administration,

HHS.

ACTION: Notice.

SUMMARY: The Food and Drug

Administration (FDA) is announcing an

opportunity for public comment on the

proposed collection of certain

information by the agency. Under the

Paperwork Reduction Act of 1995 (the

PRA), Federal agencies are required to

publish notice in the Federal Register

concerning each proposed collection of

information, including each proposed

extension of an existing collection of

information, and to allow 60 days for

public comment in response to the

notice. This notice solicits comments on

FDA’s protection of human subjects

recordkeeping and reporting

requirements for institutional review

boards (IRB’s). IRB’s are groups

composed of members of varying

backgrounds which are charged with

reviewing the ethics and risk/benefit

aspects of clinical studies involving

human subjects to assure that the rights

and welfare of human subjects are

adequately protected.

DATES: Submit written comments on the

collection of information by March 30,

1998.

ADDRESSES: Submit written comments

on the collection of information to the

Dockets Management Branch (HFA–

305), Food and Drug Administration,

12420 Parklawn Dr., rm. 1–23,

Rockville, MD 20857. All comments

should be identified with the docket

number found in brackets in the

heading of this document.

FOR FURTHER INFORMATION CONTACT:

JonnaLynn P. Capezzuto, Office of

Information Resources Management

(HFA–250), Food and Drug

Administration, 5600 Fishers Lane,

Rockville, MD 20857, 301–827–4659.

SUPPLEMENTARY INFORMATION: Under the

PRA (44 U.S.C. 3501–3520), Federal

agencies must obtain approval from the

Office of Management and Budget

(OMB) for each collection of

information they conduct or sponsor.

‘‘Collection of information’’ is defined

in 44 U.S.C. 3502(3) and 5 CFR

1320.3(c) and includes agency requests

or requirements that members of the

public submit reports, keep records, or

provide information to a third party.

Section 3506(c)(2)(A) of the PRA (44

U.S.C. 3506(c)(2)(A)) requires Federal

agencies to provide a 60-day notice in

the Federal Register concerning each

proposed collection of information,

including each proposed extension of an

existing collection of information,

before submitting the collection to OMB

for approval. To comply with this

requirement, FDA is publishing notice

of the proposed collection of

information listed below.